Classic Private Wealth Company Profile

Background

Classic Private Wealth is an authorized financial services provider established in 2013 by Wikus Marais, a pioneer in the wealth management industry. The firm is distinguished by its client-centric ownership structure, with a minimum of 51% of its shareholding held by the Private Client Trust on behalf of existing clients. This governance model ensures that the company's operations are consistently aligned with client interests.

The company's mission is to offer objective, ongoing advice to clients, enabling them to achieve their financial objectives regardless of market conditions. Classic Private Wealth emphasizes a holistic approach to wealth management, addressing various aspects such as cash flow planning, wills, trusts, taxes, and investments.

Key Strategic Focus

Classic Private Wealth specializes in providing tailored wealth management services to individuals and families who have accumulated significant assets. The firm's core objectives include:

Comprehensive Financial Planning: Crafting and maintaining customized wealth plans that encompass clients' life goals, financial positions, future prospects, personal preferences, and risk tolerances.

Investment Management: Constructing ideal investment portfolios by combining in-depth knowledge of financial markets with accurate assessments of clients' financial positions and understanding their personalities and preferences.

Implementation and Administration: Ensuring accurate implementation of portfolios, structures, and financial plans, followed by ongoing administration, regular updates, and detailed reporting.

The firm targets high-net-worth individuals, including business owners, professional practitioners, individuals approaching retirement, and beneficiaries of estates or divorce settlements.

Financials and Funding

As a privately held company, specific financial details and funding history of Classic Private Wealth are not publicly disclosed. The firm's client-centric ownership structure, with a significant portion held by the Private Client Trust, underscores its commitment to aligning operations with client interests.

Pipeline Development

Classic Private Wealth focuses on delivering personalized wealth management services rather than developing specific products or pipeline candidates. The firm's emphasis is on strategic execution of tailored plans to ensure clients' financial goals are met.

Technological Platform and Innovation

While specific proprietary technologies or AI-driven capabilities are not detailed, Classic Private Wealth leverages a strategic framework that includes planning, structuring, investment, implementation, and trust relationships to deliver comprehensive wealth management services.

Leadership Team

Executive Team:

Wikus Marais: Head of Planning & Technical Advisor. Holds a master's degree in economics from the universities of Pretoria and Cambridge. Co-founded Citadel in the early 1990s and has extensive experience serving as a director of both Citadel and Deloitte Private Clients.

Magda van der Merwe: Head of Client Management. Holds a BComm in Financial Planning. Has experience in financial services, information technology, and the legal field. Joined Classic Private Wealth in 2014.

Client Management and Administration Team:

Laurie Korsten: Portfolio Manager. Completed a BComm in Financial Management at the University of Pretoria. Joined Classic Private Wealth in 2016.

Amy Marais: Portfolio Manager. Holds a master's degree in economics from Stellenbosch University. Former international-level rhythmic gymnast.

Heather Muhl: Head of Administration. Has extensive administrative experience across various industries over the past decade.

Estelle Malan: Administrator. Experienced in various industries, focusing on business process automation.

Hilda Steyn: Business Analyst. Extensive experience in business process automation, particularly in the automotive industry. Joined Classic Private Wealth in September 2022.

Finance Team:

Nic Els: Financial Manager. Entered the finance world in 1980, obtaining a BComm Accounting degree. Registered Professional Accountant, Tax Practitioner, and Independent Reviewer with SAIPA. Joined Classic Private Wealth at the end of 2020.

Leadership Changes

No recent significant changes or appointments within the company's leadership have been publicly disclosed.

Competitor Profile

Market Insights and Dynamics:

The private wealth management industry has experienced significant growth, driven by increasing affluence worldwide. The number of millionaires in North America more than doubled between 2010 and 2022. In the United States, the total financial assets of households reached $54.4 trillion as of December 31, 2012, up 7% from the previous year.

Competitor Analysis:

Legacy Private Wealth Partners: Offers personalized wealth management services with a holistic approach, cutting-edge technology, and a range of solutions catering to both Main Street investors and ultra-high-net-worth clients.

Stonehage Fleming: Provides comprehensive advisory services covering multiple jurisdictions, including investment management, tax affairs, philanthropy, and family governance.

Pictet Wealth Management: Offers personalized services with dedicated teams covering investment management, corporate finance, tax, and legal aspects, as well as family governance and education seminars.

Strategic Collaborations and Partnerships

Specific collaborations, partnerships, or alliances involving Classic Private Wealth are not publicly disclosed.

Operational Insights

Classic Private Wealth differentiates itself through its client-centric ownership structure, ensuring that operations are consistently aligned with client interests. The firm's holistic approach to wealth management, encompassing various aspects such as cash flow planning, wills, trusts, taxes, and investments, provides a comprehensive service offering that caters to the unique needs of high-net-worth individuals.

Strategic Opportunities and Future Directions

The increasing concentration of wealth globally presents opportunities for Classic Private Wealth to expand its client base and service offerings. By leveraging its client-centric approach and comprehensive wealth management services, the firm is well-positioned to cater to the evolving needs of high-net-worth individuals and families.